With all the investors in Malaysia running towards the new safer investment option as compared to stocks and bonds, cryptocurrencies provides investors with a chance to be involved in a less risky and more profitable investment.
With the Malaysia seems to be catching up. The Bitcoin startup, Luno that offers storage, exchange and transaction services and operates in Southeast Asia, Nigeria, South Africa and the UK, is trying to be connected with Bank Negara Malaysia (BNM).
BNM has been active in stopping and preventing scams and this rise in awareness and adoption of the trend is what has lead 47.4% of cryptocurrency investor to buy bitcoins and other altcoins, against 52.6% who invested only in bitcoins, topping the list of popular altcoins is Ethereum’s cryptocurrency Ether.
The major reason for buying cryptocurrency in Malaysia is the investment. Though there could be more investment in cryptocurrency due to lack of government regulations surrounding the digital currencies people still see it as a major cause that’s holding it up.